Canada
Canada
Real Gross Domestic Product
Gross Domestic Product, chained 2012 dollars, monthly change, %, SA, updates monthly
Real Gross Domestic Product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.
Canada
Net Change in Employment
Employment, monthly change, SA, updates monthly
The Net Change in Employment measures the monthly change in the number of people employed. In Canada, the estimate includes both full-time and part-time employment and includes the number of persons who work for pay or profit, or perform unpaid family work. Markets monitor this number to gauge the strength of consumer spending, which impacts economic growth and monetary policy expectations.
Canada
Unemployment Rate
Unemployment Rate, all persons, %, SA, updates monthly
The Unemployment Rate measures the percentage of the labor force currently not working but actively seeking employment. Markets monitor the unemployment rate to assess the cyclical health of the economy and the likelihood that wage demands may increase inflationary pressures.
Canada
Consumer Price Index
Consumer Price Indices, annual change, %, updates monthly
The Consumer Price Index is a measure of the change over time in the average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in the index are closely followed by policymakers, financial markets, businesses, and consumers. Statistics Canada reports an ‘All-Items’ number that includes all categories in the calculation basket, three preferred measures of core inflation preferred by the Bank of Canada: 'Trim', which excludes components whose rates of change in a given month are located in the tails of the distribution of price changes, 'Median', which corresponds to the price change located at the 50th percentile of the distribution of price changes in a given month, and 'Common', which tracks common price changes across categories. The Trim and Median measures are seasonally adjusted, All-Items and Common are not.
Canada
Policy Rate
Bank of Canada Target for the Overnight Rate, %
The Policy Interest Rate is an overnight interest rate that the Bank of Canada targets in order to influence monetary variables in the economy, including consumer prices, exchange rates, and credit growth. The Bank of Canada adjusts the target for the overnight rate on eight fixed dates each year.
Canada
Money Supply Growth
M2 Money Supply, annual change, %, SA, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Canada
Bank of Canada Assets
Bank of Canada Total Assets, billions CAD, updates monthly
The Bank of Canada’s Balance Sheet is a financial statement that shows what the central bank owes and owns. The Bank’s assets consist primarily of Government of Canada and provincial bonds. Its liabilities are mostly currency in circulation, commercial bank reserves, and collateralized reverse repurchase agreements. The balance sheet is used to influence interest rates – when officials want to stimulate the economy, it expands, and when they wish to tighten financial conditions, it shrinks.
Canada
Debt Ratios
Credit to General Government, Non-Financial Corporate, and Household Sectors, % of gross domestic product at market value, updates quarterly
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Canada
Trade Balance
Trade Balance, balance of payments basis, billions CAD, SA, updates monthly
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported – generating a trade surplus – and a negative number indicates a deficit. Trade imbalances may reflect fleeting differences in growth rates or more permanent factors in the composition of growth or the endowment and price of natural resources.
Canada
International Investment Position
Credit to General Government, Non-Financial Corporate, and Household Sectors, % of gross domestic product at market value, updates annually
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities.
Latest Analysis
Latest Analysis
Australian CPI surprise
27 August, 2025
• Consolidation. Modest moves across markets. US bond yields fell again. AUD ticked higher. AUD also strengthened a bit on most of the major crosses.• AU CPI. Inflation re-accelerated with base-effects...
Powell Turns Dovish in Jackson Hole, Triggering Dollar Plunge
22 August, 2025
Federal Reserve Chair Jerome Powell provided a clear signal that the central bank will soon resume cutting interest rates in a speech at the Jackson Hole Economic Symposium this morning. “The balance of...
US Rate Cut Expectations Tumble Ahead of Jackson Hole
22 August, 2025
The trade-weighted dollar is holding near a two-week high after yesterday’s hotter-than-anticipated activity data triggered a dramatic reappraisal of the Federal Reserve’s expected easing trajectory, lowering...
What will Chair Powell say?
21 August, 2025
• Cautious tone. Hawkish Fed soundbites & positive US data saw yields tick higher. US equities slipped back. AUD & NZD remain on the backfoot.• Fed speak. Chair Powell speaks at Jackson Hole tonight....
Outlook Improves As Global Private Sector Activity Rebounds
21 August, 2025
A hint of cautious optimism is creeping into currency markets this morning after a raft of activity gauges suggested that the global private sector is proving surprisingly resilient in the face of the...
Currency Markets Steady As Traders Await Fed Communications
20 August, 2025
It’s quiet. Too quiet. Most major currency pairs remain trapped in tight price ranges this morning as volumes fall, but the dollar is firming slightly as traders hedge themselves against an unexpectedly-hawkish...
RBNZ: who let the doves out?
20 August, 2025
After holding steady last time out the Reserve Bank of New Zealand once again spread its ‘dovish’ wings at today’s policy meeting. As expected, the RBNZ announced another 25bp cut which lowered the Official...
Markets hit an air pocket
19 August, 2025
• Market wobbles. A small bout of risk aversion overnight. US equities declined while the USD ticked up. AUD & NZD lost some ground.• RBNZ meeting. RBNZ expected to cut rates again today. Will it flag...
Currency Market Price Action Slows, Canadian Inflation Eases
19 August, 2025
A sense of calm has descended upon global financial markets as the data cadence slows, geopolitical developments settle to a dull roar, and monetary policy expectations stabilise. Benchmark Treasury yields...
Traders Turn Cautious in Run-Up to Jackson Hole
18 August, 2025
Good morning, and welcome back. In the US, ten-year Treasury yields are holding near last week’s levels, equity futures are setting up for a modest advance at the open, and the dollar is trading near a...